PTC Announces Third Quarter FY’15 Results

The fourth quarter and FY’15 GAAP and non-GAAP operating margin and GAAP and non-GAAP EPS guidance exclude the estimated settlement losses of approximately $65 million related to the termination of our U.S. Computervision pension plan. While we expect to complete the termination process by September 30, 2015, the amount of the losses will vary based on the timing of the settlements and the amount of the projected benefit obligations and assets in the plan measured as of the dates the settlements occur.

The fourth quarter and full year FY’15 non-GAAP revenue, non-GAAP operating margin and non-GAAP EPS guidance also exclude the following items and their income tax effects, as well as any discrete tax items:

($ in millions)     Q4’15   FY’15
 

Effect of acquisition accounting
on fair value of acquired deferred revenue

$ 1 $ 4
Stock-based compensation expense 14 52
Intangible asset amortization expense 14 56
Acquisition-related charges - 9
Pension plan termination costs 2 7
Pending legal settlement accrual - 14
Restructuring - 43
Total GAAP adjustments $ 31 $ 185

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